PLANO, Texas — Crossmark here said Wednesday that an affiliate of investment firm Warburg Pincus has agreed to acquire a majority stake in the sales and marketing agency. Terms of the acquisition were not disclosed.
The management owners of Crossmark will maintain a “significant” equity position in the company and will continue to lead it after the transaction closes, Crossmark said.
“The Warburg Pincus partnership will provide growth capital that will allow Crossmark to make acquisitions, expand our service offerings and further enhance our capabilities to to deliver even better service to our clients and our customers,” said John Thompson, chief executive officer, Crossmark, in a statement. “We are pleased to have a partner with a common vision and a track record of backing management with resources, expertise and relationships.”
Jim Neary, managing director of Warbug Pincus, cited increasing demand among manufacturers and retailers for the types of outsourced services offered by Crossmark, “along with dynamics favorable to the continued growth of in-store services.”
Crossmark offerins a range of marketing and in-store servcies, including a product-sampling business in Wal-Mart and other retailers.
Read more: Sales Agencies Expand
Warburg Pincus has investments in a range of industries around the world. Its other food, foodservice and retail-related holdings include stakes in Aramark, Premier Foods, Dumpling King, Poundland and Scotsman Industries, according to its website.
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